MODEC Inc. has secured a contract from ExxonMobil Guyana Ltd. to develop a Floating Production, Storage, and Offloading (FPSO) vessel for the Hammerhead project. MODEC said in a media release the contract is a Limited Notice to Proceed (LNTP) hinging on government and regulatory approvals.
Liebherr has successfully sold two offshore cranes of the type RL 2600 (Ram Luffing 2600) and RL-K 2600 (Ram Luffing knuckle boom 2600) to Singapore-based Yinson Production. The cranes will support the Agogo FPSO (Floating Production Storage and Offloading Unit), which will be operating in the Agogo field of offshore Angola. Used for maintenance and component replacement on the Agogo FPSO, the cranes are the ideal choice for harsh offshore environments.
Japanese company Modec has confirmed the award of a contract to supply and operate a large newbuild floating production, storage and offloading vessel for Shell’s latest oil project in Brazil.
Murphy Oil Corporation has signed an agreement to acquire the BW Pioneer floating production storage and offloading vessel (FPSO). The company said in a media release that it has agreed to pay $125 million to BW Offshore for the unit, with an initial payment of $100 million due upon delivery by the end of the first quarter of 2025.
Under the memorandum of understanding, which was signed at Offshore Korea 2024, Samsung will design the FPSO while LR will undertake the review of the contractor’s deliverables and provide technical advice for further design development.
SBM Offshore announces it has completed the project financing of FPSO Jaguar for a total of US$1.5 billion.
The project financing was fully secured by a consortium of 16 international financial institutions. SBM expects to draw the loan phased over the construction period of the FPSO. The project loan is in line with the duration of the construction phase.
Offshore Frontier Solutions (OFS), a Modec group company in Singapore, has partnered with Toyo Engineering to establish a global capability centre in Bengaluru, India.
The federal government at the weekend said it was eyeing the production of an additional 40,000 barrels per day to boost the country’s current output from the ongoing Floating Production Storage and Offloading (FPSO) facility in Lagos.
The groundbreaking partnership will help reduce emissions and enhance performance.
China National Offshore Oil Corporation (CNOOC) has started production at Liuhua 11-1/4-1 oilfield secondary development project, which features China’s first cylindrical floating production, storage, and offloading (FPSO) unit and a new platform.